Brayden Russell

Husband, father of 2 boys, founder of Headwater Advising and Wattz Up EV

[Brayden Russell @BRuss008]

Feb update:

3 month: -6.84%
12 month: 0.54%
All time (Feb 21’): 40%
All time (Feb 21’ DCA SP500): 44.73%

Added to: $CSU, $V, $MA

Exited: $CPRT

First time falling below my benchmark of a DCA of the SP500.

Port is being tested.

[Brayden Russell @BRuss008]

@varuninvesting Probably $BN, $CSU, $MA and $ASML

$FICO, $MELI, $GOOG were tough to leave off the list

[Brayden Russell @BRuss008]

@antibearthesis Its IPO valuation was already quite rich. It’s still up substantially from there

[Brayden Russell @BRuss008]

@realroseceline I try to buy important businesses, run by good teams, at fair valuations. Worked well so far

[Brayden Russell @BRuss008]

@ariaradnia Haha I mean if you didn’t want $CSU at $2200 or $BN at $45, I doubt you’d want them ever

[Brayden Russell @BRuss008]

@IrrationalMrkts @chettan_guevara @varuninvesting $CSU still seems decent. $V and $MA possibly

Yea $TVK unless they uncover more (which I doubt)

$MELI

[Brayden Russell @BRuss008]

@IrrationalMrkts Incredible patience

[Brayden Russell @BRuss008]

@MoS_Investing No conclusions, I was just mentioning to him that if Tesla traded at normal multiples it would be a fraction of the current market cap. He didn’t realize how rich it’s always valued (he’s not a very experienced investor))

[Brayden Russell @BRuss008]

@varuninvesting @IrrationalMrkts Exactly.

$CSU at 2300 a few months ago
$BN at $28 in 2023
$ASML at $600 in 2025
$FICO at $920 a few months ago

Are a few that come to mind

[Brayden Russell @BRuss008]

@IrrationalMrkts Agreed. There’s always some work to be done

But owning something like Aritzia is probably 10x more work than ASML

[Brayden Russell @BRuss008]

@joecarlsonshow $TVK
$BN
$CSU
$TOI
$MA / $V
$AXON
$FICO
$MELI
$HPS.A

[Brayden Russell @BRuss008]

@IrrationalMrkts I think a big part of this decision process is how much time you have dedicated to keeping up with your holdings

I’m running 2 businesses, and have 3 kids and a wife 😂

I’ll gladly take 10-15% returns for a low maintenance position over a potential 20% high maintenance one

[Brayden Russell @BRuss008]

@MoS_Investing Why not 10T?

[Brayden Russell @BRuss008]

@BradoCapital @ErnestWongBWM 💯

[Robin Brown @Robbybrown99]

National Bank on $TVK.TO : "As of the time of this publication, there have yet to be any charges announced by the AMF. Our $170 target is based on 12.5x 2027e EV/EBITDA, inclusive of a 2x M&A premium, without which our target would fall to $135, still representing a ~25% return..

[Brayden Russell @BRuss008]

@ariaradnia Sounds like $MELI

[Brayden Russell @BRuss008]

@a_chhoy @BondKingJanusH1 The activity in day to day operations might be more similar here than the titles give credit for.

My understanding is that Leonard was basically only dealing with the big deals these last few years, of which there are very few.

[AChhoy @a_chhoy]

Saturday afternoon on the course. 🏌️‍🇦🇺

Some rounds you fight your way out of a bunker — and watch the ball roll straight into a hazardous lie you didn’t see.

That’s $TVK.TO this week.

Three bolt-on acquisitions in two weeks. The serial acquirer flywheel turning exactly as it should. I thought the recovery shot was clean.

Then June 5. An AMF search warrant alleges Executive Chairman Charles Pellerin tipped family and associates ahead of the March 2025 EnTrans deal. Stock -32% in a session.

Out of the cyclical bunker. Into a governance one. Brutal.

Different lie. Different problem.

The first bunker had a clean sightline — EnTrans demand softness, a mechanical problem with a known recovery window. This one is foggier. Legal timelines are long. Expecting volatility and overhang regardless of outcome.

But here’s what hasn’t changed: Dustin Haw and Mitch Gilbert run the business and allocate the capital. The bench is deep — John Jacob at Highland, Ryan Rockafellow at EnTrans, Ken Wagner at Fraction. The board moved same-day to exclude Pellerin from their review — independent directors functioning as they should.

The allegation is personal conduct by one individual. Not the company. That distinction matters. Pellerin was a key architect of what TerraVest became. Sad to see.

The thesis bends here — it doesn’t break.

You don’t get to choose your hazard. You only get to choose the next swing.

A great round isn’t a clean round. It’s how many times you get up-and-down from places you never meant to be.

Same philosophy. Different course. ⛳